The aim of the financial report is to supply information on the costs and revenue of the school production to the school governors.

The total revenue that they earn that day was below the average because they spend less money on the advertisement. The tickets sales represents 67% of the maximum possible of these 65% was to adults, as can be seen in the pie chart below of the £977 income 81% come from adult ticket sales.

2nd Night

Tickets Types

Total tickets

Total Revenue

Adult tickets

205

*6.00

£1230

Children ticket

35

*2.50

£87.50

OAP tickets

5

*3.00

£45

Total tickets and Amount

255

£1362.50

2aii Second night

On the second day of the school production, the adult tickets was increased from 65% to 80% as compare to the first night, that means an increased of 15%.

The OAPs tickets was also decreased from 10% to 6% as compare to the first night show and a decrease of 4% as you wouldn't expert an OAPs to fill the place up because it is specifically meant for children. As the children's tickets was14% as compare to the first night ticket of 25%, this shows a decreased of 11%.

The percentage of the ticket sold was 85% as compare to the first night which was 67%, an increased of 18%. This means that increasing the children's ticket up can solve this problem

Tickets sales income, 85% of all tickets were sold. Of these 80% were to adults and 13% were to children. This resulted in high overall revenue of £1362.50

Adults' tickets sale now represents 91% of the revenue while children are only 6

3rd Night

TICKETS TYPES

Total tickets

Total Revenue

Adult tickets

99

*6.00

£594

Children ticket

79

*2.50

£447.50

OAP tickets

22

*3.00

£66

Total tickets and Amount

300

£1184.50

2aiii Third night

On the third night of the production, there was a significant change in the production. The adult ticket took the total revenue of tickets sold on that night even though the children had the higher tickets sold on that nigh, as the adults had 54%, the children 40% and the OAPs had 6%. This was because the children tickets was so affordable so no matter how many they come in their numbers the adults will take the lead.

As can be seen from the label above, 100% tickets sales were achieved. However adult tickets sales dropped to only 60%, which children increased to 33%. This means that adults tickets accounts for revenue only 54% of revenue. This resulted in a dropped of revenue of £1184.00 even though more tickets were sold

This time, the adult's ticket was 33% and the children tickets were 60% as compared to those two previous nights. The children ticket was 27% higher than the adult ticket. The OAP ticket was 7% as compared to those two nights as it was 10% and the second night 6%. The percentage tickets sold were 100%. This means that all seats were filled up.

PROFIT & LOSS

When all revenue from the three night of the production was calculated together. As can be seen below revenue of £3524 was achieved. This has then been compared with the theoretical maximum. Overall 65% of the potential revenue was achieved

Total income is

1362.50

1184.50

+ 977.00

3524.00

Therefore, the maximum revenue possible is: Number of seats = 300*3=900

Maximum revenue if all tickets were sold to adults is: 900 x £6.00 =£5400.00

Percentage of actual income and Maximum possible income is = £3524 x 100

£5400

Therefore = 3524

54

= 65.3%

= 65%

The revenue over the three nights were:

3524.00

- 436.50

3087.50

3 EXPENSES OF PRODUCTION

ITEMS

AMOUNT

COSTUME HIRE

£250

MATERIAL FOR SCENERY

£75

MAKE UP

£17.50

WIRING LIGHTS

£24

OVERTIME FOR SCHOOL KEEPERS

£35

TICKET PRINTING AND LEAFLET

£20

ADVERTISING

£15

TOTAL AMOUNT

£436.50

This is the expense they spend for the production to take place. Apparently, they didn't spend much on advertising.

Conclusion

The overall money rose for the school production was satisfactory, and will be put towards next year's school production to help reduce the cost.

The best way to generate higher amount profit is to increase the amount of the children's tickets. The money they put in the advertisement wasn't enough. In other to generate money out of it, they should have put more money in the advertisement in other to bring more people to the first night show. To generate money from a production you will apparently have to put higher amount of money for you to get higher amount of profit.